Wearable Health Solutions Inc (WHSI)

[Trader7k]

Can't stop REVENUE, UP 533% From SEC filing, Net sales generated during the year ended June 30, 2014 and 2013 were $1,153,693 and $572,712, respectively; representing a 101% or $580,981 increase. The sales were generated through distributors, resellers, and direct sales to consumers. The company changed its strategic business direction toward a more widespread product distribution, resulting in the dramatic increase in net sales for the year ended June 30, 2014.

Gross profit generated during fiscal 2014 was $829,190. This represents a 533% or $698,266 increase from the year prior. The gross profit margin for 2014 and 2013 was 72% and 23%, respectively. The increase in gross profit margin was due to a substantial increase in recurring revenue generated from monthly monitoring services.